There is new evidence of global pain stemming from President Trump's trade policy, which single-handedly scrambled the world economy.
Why it matters: From China to Switzerland, the economic readjustment to double-digit tariffs has been bumpy. Even with trade deals, the levies imposed on their goods are still well above pre-Trump norms.
- Unlike the U.S., most countries do not have an AI investment boom picking up the slack.
